Did you know that emerging market consumers are fast becoming a significant population demographic on social media? In fact, social users from Asia and Latin America are outnumbering others, as their growth continues to rise. Today, I'm going to talk about how your business can reach out to these emerging market consumers, to make more money for your business!
Emerging Market Information
Facebook is soon to hit 1 billion users, and this is because of these emerging sectors all over the world. Research has found that users in these markets are more likely to rely on information that they receive from social sources. This is partly due to the fact that many of these users only have access to mobile internet technology.
Approximately 60% of the global population comes from emerging markets. They're going to become more and more important as buyers, fans and communities for your business. That's why you need to know how to reach these demographics.
Reaching Consumers From Emerging Sectors
Emphasis must be placed on mobile technology, simply because all current modern trends, point to the fact that mobile will soon eclipse internet use. Ask yourself these questions and streamline your strategy for emerging consumers.
• Is your website mobile compliant?
• Can people easily subscribe to your lists via mobile?
• Is your blog easy to read on a mobile phone?
• Do you use mobile app technology to engage your users?
• Do you use MMS, SMS or web-related technology for mobile phones?
Think about these questions. If your answer is 'no' to all of them, then your social strategy is excluding a huge portion of your buying market. Proof exists that buyers from emerging markets are way more engaged than buyers from mature markets. This means that you'll be able to interact with these consumers more often, building trust, authority, credibility and social proof as you promote your brand.
Social media is the fastest and easiest way for you to tap into these new emerging revenue streams. But to do this, you must ensure that the language barrier is not an issue. Make sure that users can view your information in foreign languages, like the Hispanic, or Asian languages. This is especially useful if you run a product-based business, and rely on direct website sales.
Features To Consider in Your Social Campaign
Different markets and economic conditions influence how people use social media, and this is true of emerging markets. For instance, there is a very low internet penetration in many parts of the world. You can use this information to target mobile technology as a dominant social revenue stream.
Other factors include the fact that these markets are behind on mature methods of payment - like remote buying, or using credit cards or Paypal online. You can solve this problem by offering more virtual coupons and incentives, to entice emerging market consumers to test out online buying.
Make sure that your social strategy educates everyone, not simply people who already understand the online sales process. If you do this, your business has the potential to source thousands of new buyers from these emerging markets!
Do you think there is value in targeting buyers outside the US or UK? Can emerging markets make a difference to your bottom line?